Buy Now Pay Later Schemes: How vulnerable do they make you?
Buy Now Pay Later (BNPL) schemes have become increasingly popular over recent years. They allow individuals to purchase goods and services and spread the cost (interest-free) over a number of monthly instalments. Some retailers have their own BNPL scheme, however many use a third-party provider such as Klarna, and Afterpay. When an individual opts into…
Read MoreGrowing the mutual lending sector: what is the data showing us?
In October 2023 we were host to a packed event with credit unions and stakeholders to discuss growing the mutual sector during a tougher lending climate. Expert speakers discussed the data, lending risk and Information Technology. Tough times for mortgagees We kicked off the event by looking at the data. Borrowers to credit unions are…
Read MoreHow should Northern Ireland credit unions respond to rising interest rates and affordability issues?
With rising interest rates, the cost of living crisis and affordability issues, Northern Ireland households are under financial pressure. It’s becoming harder for you to lend to new and existing members and support your community. Overall, accept rates for loans fell by 5% between 2022 and 2023 in line with the fall in credit scores.…
Read MoreLoan Sharks: Who is really behind the mask?
What does a loan shark look like to you? When thinking about a ‘loan shark’, the chances are that the image that springs to mind is the ‘TV soap gangster’. But in reality they are not always that easy to spot. They could just as easily be that neighbour who always stops to chat, a…
Read MoreHow financial associations affect your credit profile
A financial association is a link between two or more people who have shared financial accounts or products. This includes joint bank accounts, credit cards, mortgages, and loans. Financial associations can affect your credit profile, as their credit history may also be taken into account when lenders make credit decisions. If a financial associate has…
Read MoreMutual Growth Seminar
The cost of living crisis and rising interest rates means it’s a tough time to lend. NestEgg’s Mutual Growth Seminar will help participants explore and discuss strategies for growing the mutual sector at this difficult time. The day will be structured around four fireside chats, covering affordability, products and technology. What is the data telling…
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